Sometimes in business it’s necessary to partner with another business to enhance your products or services. For example, a wedding photographer might partner with a videographer to provide an all-round media package for weddings. Whatever your business may be, if you are thinking of entering into a partnership it’s very important that you do your research and consider the following:

What value are they adding to your business?
Does their brand share the same ethics?
Do they possess the standard of quality you’d expect from your own business? and;
Are they a well known, established and trusted brand? Or are they a start-up/unknown brand to the market?

Basically, you want to make sure that whoever you go into business with is going to be on the same page as you and want the same outcome.

Be careful when partnering with friends too; just like personal relationships, it’s fantastic if it works out (you know, like Chandler and Monica), but if it doesn’t, things can get really awkward and really ugly (sorry Rachel, but you guys were definitely on a break). If you’re going to partner with a friend’s business (or even a relative’s) make sure that they have the same motivation and goals as you so you don’t risk a business or personal fallout. Trust is crucial in any business relationship, as is reliability, so don’t let personal relationships jeopardise this.

Tip: Team up with businesses that make you look good by association.

Partnering With The Right People